Nucor Nearly Triples Its Second Quarter Earnings Guidance: What It Means for the Stock
Nucor (NYSE: NUE), a leading U.S. steelmaker and steel products supplier, reported second quarter earnings of $0.36 per share on July 23. The results are impressive because the company originally said it was "likely" to report a loss for the quarter and more recently revised that guidance to an estimated profit of $0.10 to $0.15 per share, just one month ago.
A look at the details shows strength in some important end markets, as well as conservative cash management that is allowing the company to successfully navigate the current volatile economic landscape. Investors might wonder what this could mean for the stock.
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Source Fool.com
